patrick.net

she should rent for a while.

hrhjuliet says

In reality, she saw a bunch of homes that were far better that recently came on the market for way less.

I am seeing more and more listing going off market. Tide may be turning around, until then keep believing the redfin graphs posted here. :)

Carey is holding at $450k -- do I hear $460k? The rise was meteoric. At these price levels, I think its safe to say GRM blows up. So you're left with organic demand from people who want to (and can afford to) buy a home.

This thread illustrates my main problem with buying a house. The discussion includes phrases like "less than listing" "inventory" and the investment aspects of what way prices are heading.

Someone who cares about their financial well-being asks, "What is the price and how much money do I have today?" For how long will this price mean being in debt? How much pressure will I experience because this payment means making more money in the future, making the same amount of money for the rest of my life or spending all the money I currently have on one thing?

hrhjuliet says

Okay, what the heck? My cousin walked away from the house above because the counter was so much higher, but now they called two weeks later randomly asking if her old offer still stands? Why all the game playing?

Typical ploy... ever since late 90s the realtors cook up fake multiple offers..

and of course the media is all to pleased to push it in the news as a fact when its not... its all a lie.

FunTime says

This thread illustrates my main problem with buying a house. The discussion includes phrases like "less than listing" "inventory" and the investment aspects of what way prices are heading.

Someone who cares about their financial well-being asks, "What is the price and how much money do I have today?" For how long will this price mean being in debt? How much pressure will I experience because this payment means making more money in the future, making the same amount of money for the rest of my life or spending all the money I currently have on one thing?

No, people who care ask both sets of questions.

hrhjuliet said: In reality, she saw a bunch of homes that were far better that recently came on the market for way less.
Redfin shows inventory in Morgan Hill up over 50% from last year (and 25% month-to-month). The bubble is pushing out from the urban core -- will be interesting to see if suburban inventory can stem the tide. Last time around Casey Serin had others had access to 'easy money' which sucked up the inventory and boosted prices far past where they should have gone in the hinterlands.

once/if the excess reserve funds start getting lent out gold could be a very good investment.

The chart below details what's important.
I am in the bay area, and I desire my own home, almost more than anything else (new car. .. etc.)
However, the two times I though about buying a home, 1999 and 2011, I wasn't in the position to purchase one, and I think you know the rest.

This graph is up to Q2 2013. So it's even more skewed. This graph is a collection of the entire US. The bay area is more extreme.

I will buy when the blue line hits the pink line again. These lines will intersect again, even if the pink line has to increase. But people don't rent on credit, so if the pink line ever does, it will be because of inflation or income parity.

Case closed.

donjumpsuit says

I will buy when the blue line hits the pink line again.

You will have to wait till your retirement!

bubblesitter says

You will have to wait till your retirement!

Or the next earthquake.

donjumpsuit says

Or the next earthquake.

Ah, OK. I forgot our million $ shacks are built on strong foundations.

Back to topic.

The slowdown in May is interesting since it is usually the hottest month. Less people go to Open Houses and fewer number of offers (2-5 instead of over 10). First half of Jun show improvement though. Meanwhile, stock market makes another ATH and beaten tech and biotech stocks (e.g. NFLX, TSLA, CELG) are back in vogue.

It's different this time, and it only takes one buyer out of the possible seven billion on Earth.

Buy now or... er, if you haven't bought by now, you missed your chance years ago.

exfatguy says

It's different this time, and it only takes one buyer out of the possible seven billion on Earth.

Buy now or... er, if you haven't bought by now, you missed your chance years ago.

Yep, buy now and be satisfied that you won a lotto or be dejected as looser for not winning one.

Could it be that every dip (e.g. caused by nationwide RE decline) in Bay area's RE prices is a good buying opportunity? Well so long SV remains the centre of tech innovation. If not SV, where?

hanera says

Could it be that every dip (e.g. caused by nationwide RE decline) in Bay area's RE prices is a good buying opportunity? Well so long SV remains the centre of tech innovation. If not SV, where?

im sure they said the same about Route 128.... the other Silicon Valley you might of heard about before its demise.

thomaswong.1986 says

im sure they said the same about Route 128.... the other Silicon Valley you might of heard about before its demise.

San Jose, Santa Clara,los gatos,Saratoga,SUNNYVALE, etc.....have all become, and always have been shitholes built on the premise that who ever the current authority is/was (Mchenry...etc)... Would be able to sell out Their constituency for cheap box seats at the latest massive financial windfall development (in their own favor of course) at the cost of the people they are supposed to represent) these elitist swine believed they could swindle, convince and buy media time to nail the box shut...are of course....the actual problem...at this authors opinion. The real problem for these self proclaimed NOBLES of society is no different from the so called NOBLES in the not so distant past who sold out thier own people to invading hordes in order to save their own hides.

"The course of your fate is yours alone, do the right thing, for the right reasons, not just because you think you might get caught doing the wrong thing, for your own self centered reasons".

Sensei Mac Coll

RentingForHalfTheCost says

big ass whipe

Wtf is a whipe?

corntrollio says

RentingForHalfTheCost says

big ass whipe

Wtf is a whipe?

Sorry, I forget some people spend all day on their computers.

http://www.urbandictionary.com/define.php?term=whipe

indigenous says

once/if the excess reserve funds start getting lent out gold could be a very good investment.

If money starts being lent, it means the economy picks up, rates rise and gold gets slaughtered.